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UPDATED: Irfaan Ali sworn in as Guyana’s 9th Executive President

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Guyana's General and Regional Elections held on March 2, 2020 finally concluded on Sunday with the Guyana Elections Commission (GECOM) declaring the opposition People’s Progressive Party Civic (PPP/C) as having received the majority of votes and its candidate Dr....
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Second royalty payment pushes Guyana’s oil revenue above US$98 million

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Guyana’s second royalty payment from oil produced and sold in Q2 2020 now pushes the total revenue the country has received since oil production began last December to more than US$98 million. Finance Minister, Winston Jordan, has confirmed that the...
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Magazine celebrating achievements of women to be launched soon in Guyana

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Guyana’s first Women’s Chamber has partnered with Creative Marketing Company (CMC) to produce its first edition of ‘Women in Focus’, a publication aimed at inspiring women and promoting their achievements. The Women’s Chamber of Commerce and Industry Guyana (WCCIG) was...
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U.S. defense firm joins creditors seeking to enforce Venezuela judgments

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(Reuters) - U.S. defense contractor Huntington Ingalls Industries Inc has joined a long line of creditors seeking to enforce a judgment against heavily indebted OPEC member Venezuela, court documents filed on Friday showed. Huntington Ingalls’ shipbuilding unit earlier this year...
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OPEC July oil output surges as Gulf voluntary cuts end: survey

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(Reuters) - OPEC oil output has risen by over 1 million barrels per day (bpd) in July as Saudi Arabia and other Gulf members ended their voluntary extra supply curbs on top of an OPEC-led deal, and other members...
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September time-frame for Payara approval “very important” – Neil Chapman

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Guyana Government approval of the 220,000 barrels per day Payara Development Project by September is being viewed as “very important” if ExxonMobil is to capitalize on a crucial window of opportunity to get the project going without further delays. The project was...
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Apache’s Block 58 offers most promise for Suriname resource – Morgan Stanley

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US multinational investment bank and financial services company Morgan Stanley says despite a wave of lease awards beginning in 2010, no commercial oil resource had been discovered in offshore Suriname prior to Maka Central-1, Apache's first exploration well on...
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Venezuela supreme court approves extradition request to Italy for ex-oil czar

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(Reuters) - Venezuela’s supreme court said on Friday it had approved a request to Italy for the extradition of Rafael Ramirez, a once powerful oil minister and former head of state oil company Petroleos de Venezuela, on corruption charges. Authorities...
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Offshore drilling company Noble Corp. files for bankruptcy

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Noble Corporation plc announced on Friday that it has entered into a restructuring support agreement with two ad hoc groups of the largest holders of the Company's outstanding bond debt regarding a consensual financial restructuring transaction that will significantly...
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Exxon, Chevron earnings gutted by virus-driven demand slump

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(Bloomberg) Exxon Mobil Corp. and Chevron Corp. posted the worst losses in a generation after the pandemic and a global crude glut combined to batter almost every part of their businesses. Exxon’s $1.1 billion second-quarter loss was the deepest in the company’s modern...
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Improvements in infrastructure, productivity pushing Guyana’s non-oil GDP – IMF

Guyana’s oil sector is projected to account for a slightly smaller share of the country’s economy in 2025 for...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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